Benitec Biopharma (NASDAQ:BNTC) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.18 and traded as high as $11.49. Benitec Biopharma shares last traded at $11.49, with a volume of 35,068 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BNTC shares. Guggenheim restated a "buy" rating and issued a $17.00 price target on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Baird R W raised Benitec Biopharma to a "strong-buy" rating in a research report on Thursday, December 12th. Piper Sandler reaffirmed an "overweight" rating on shares of Benitec Biopharma in a report on Friday, October 18th. JMP Securities boosted their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a "market outperform" rating in a report on Monday, October 14th. Finally, Oppenheimer initiated coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They set an "outperform" rating and a $35.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $24.43.

Benitec Biopharma Trading Up 3.1 %

The stock's fifty day simple moving average is $11.26 and its 200 day simple moving average is $10.15.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 42,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now owns 7,957,365 shares in the company, valued at $76,390,704. This represents a 0.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of BNTC. Geode Capital Management LLC boosted its stake in shares of Benitec Biopharma by 31.3% in the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock worth $772,000 after acquiring an additional 20,012 shares during the period. Suvretta Capital Management LLC lifted its holdings in Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company's stock worth $81,139,000 after purchasing an additional 7,137,763 shares in the last quarter. Acuta Capital Partners LLC bought a new position in Benitec Biopharma in the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. grew its holdings in Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company's stock valued at $1,071,000 after buying an additional 65,319 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company's stock valued at $60,000 after buying an additional 1,102 shares during the last quarter. 52.19% of the stock is owned by institutional investors.

About Benitec Biopharma

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.